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6924 Ellesmere Way Cypress, CA 90630

4 Beds 1 Baths 1,547 sqft Built 1976

$624,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $403.36
  • 5 Days on Market
  • MLS # : PW20236025
  • Updated Date : 11/11/2020 at 10:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,547 sqft
  • Baths : 1 full
Listing Agent

First Team Real Estate

Listing Agent's Description

BEAUTIFUL & HIGHLY SOUGHT AFTER MODEL WITH A MAIN FLOOR BEDROOM & MANY UPGRADES IN THE FABULOUS COMMUNITY OF CYPRESS VILLAGE! You will absolutely love the open floor plan & living room with quality laminate flooring, smooth ceiling, and stylish plantation shutters. This home sparkles with abundant sunshine in the spacious dining room & kitchen with upgraded cabinetry, brand new gorgeous stainless steel appliances, & lovely garden window. The main floor bedroom/office/playroom & remodeled bath with an elegant walk-in shower, makes this home extra special! Upstairs you will find brand new carpet, & a large master bedroom with a floor to ceiling double wide closet & walk-in closet, more plantation shutters, tree views & another remodeled ensuite bath. Also upstairs are 2 more good sized guest bedrooms, ample linen cabinetry & a full bath. Additional Highlights: Dual pane windows & slider, air conditioning, plenty of storage, and an inside laundry room including the washer & dryer. The charming & low maintenance private patio provides easy living with artificial grass, a wrought iron gate & access to a 2 car garage with an automatic door. This delightful home has it all! It has been well maintained, is super clean & ready to move right in! Local, award winning schools are HIGHLY RATED! Wonderful Cypress Village was built by S & S and has 3 Pools, 3 Clubhouses, a Spa, a Kiddy Pool, Tennis, Lush Greenbelts & Meandering Walking Paths & a LOW HOA of only $285 per month! Welcome Home!

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MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Cypress

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700kPrice in $243k742k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Cypress

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200Rent in $18413345

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Patton Elementary School Primary Regular 1,006 37 10
Patton Elementary School Middle Regular 1,006 37 10
Pacifica High School High Regular 1,773 75 9

Patton Elementary School

  • Education Level: Primary
  • # of students: 1,006
  • # of teachers: 37
10
GreatSchools Rating

Patton Elementary School

  • Education Level: Middle
  • # of students: 1,006
  • # of teachers: 37
10
GreatSchools Rating

Pacifica High School

  • Education Level: High
  • # of students: 1,773
  • # of teachers: 75
9
GreatSchools Rating
 

$561,600$686,400$624,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,302
Property Tax -$630
Property Insurance -$64
HOA -$285
Property Management Fees -$128
CASH FLOW
-$790

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$624,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,110

INVESTMENT

$171,110

Down Payment
$156,000
Rehab Estimate
$5,750
Closing Costs
$9,360

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,302

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,000
Loan Amount $468,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$727

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,620

    LIST RENT
  • $1.69

    LIST RENT PER SQFT
  • $2,812

    COMP ESTIMATED VALUE
  • $1.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,620
1$2,6202$2,6953$2,8004$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 6924 Ellesmere Way Cypress, CA 1
    • 4 beds 1 baths ∙ 1,547 Sqft ∙ Built 1976 4 beds 1 baths ∙ 1,547 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $1.69
    •  
  • 6760 Via Irana Stanton, CA 2
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1977
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.83
    •  
  • 11381 Montserrat Street Cypress, CA 3
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1972
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.80
    •  
  • 11375 Harkers Court Cypress, CA 4
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1974
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.85
    •  
  • 6985 Molokai Drive Cypress, CA 5
    • 4 beds 2 baths ∙ 1,673 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,673 Sqft ∙ Built 1967
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.79
    •  
PROPERTY LISTING DETAILS
Julianne Sanchez
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20236025
Last Updated: 11/11/2020
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